The nation's second largest public pension fund is suing Wal-Mart for breaching its fiduciary duty in connection with allegations that the retailer's Mexico subsidiary engaged in a bribery scheme and the company failed to properly investigate and disclose the matter. The California State Teachers' Retirement System (CalSTRS) filed a derivative action against Wal-Mart in the Court of Chancery in Wilmington, Del., where the retailer is incorporated. The suit claims that Wal-Mart's top management and directors were alerted to evidence that Walmart de Mexico executives were involved in the payment of bribes to expedite the expansion of Wal-Mart stores in Mexico.
Wilmington, Del. -- Chase Card Services, a division of JPMorgan Chase & Co., and Kohl’s Department Stores announced Tuesday an exclusive marketing partnership in which Chase card members with Ultimate Rewards will gain access to a wide range of increased rewards benefits for shopping at Kohl’s. Beginning in 2011, Kohl’s and Chase will launch several new initiatives designed to reward Chase card members for shopping at Kohl’s, including enhanced gift card promotions and expanded bonus point programs for qualifying Kohl’s purchases.
In a setback for the QVC shopping network, a federal judge has said that vitamin marketer Andrew Lessman, who sells supplements on the Home Shopping Network, may continue to use his blog to criticize competing products sold by QVC.